Nomura Securities Co., Ltd., together with joint holders Nomura International PLC and Nomura Asset Management Co., Ltd., filed an amended large shareholding report on Kakaku.com, Inc. (TSE: 2371) showing their combined stake fell to 4.29% of the company's outstanding shares as of June 30, 2026, down from 5.72% in the group's previous report. The move takes the group below the 5% line at which Japan's large-shareholding rules require ongoing disclosure. The group's combined position stood at 8,508,876 shares out of 198,218,300 shares outstanding. Nomura Securities is listed as lead filer, with Nomura International PLC and Nomura Asset Management Co., Ltd. as joint holders. The filing's stated trigger matches Japan's standard reporting code: a decrease of one percent or more in the shareholding ratio, combined with the conclusion or amendment of an important contract of one percent or more.
The filing landed the same day EDINET carried a second, unrelated Kakaku.com disclosure with far more riding on it: an amendment describing how two of the company's largest shareholders plan to handle an ongoing tender offer to take Kakaku.com private.
Kamgras 1 Co., Ltd., the bidder, is offering ¥3,000 a share and has extended its tender window twice, most recently pushing the deadline from July 2 to July 16, 2026. Digital Garage, Inc. and KDDI Corp, which hold 20.64% and 17.67% of Kakaku.com respectively, signed a non-tender agreement with Kamgras 1 on May 12, 2026, under which neither will tender its shares into the offer.
| Shareholder | Latest disclosed stake | Filing note |
|---|---|---|
| Nomura Securities + joint holders (Nomura International PLC, Nomura Asset Management) | 4.29% (down from 5.72%) | Filed July 7, 2026; crosses below Japan's 5% disclosure threshold |
| Digital Garage, Inc. | 20.64% | Will not tender into Kamgras 1's ¥3,000-a-share offer; plans to reinvest in bidder's parent after squeeze-out |
| KDDI Corp | 17.67% | Will not tender into the same offer under a non-tender agreement signed May 12, 2026 |
| Digital Garage + KDDI combined | 38.31% | Non-tender agreement covers this combined stake in Kakaku.com |
Instead, once the offer closes, Kakaku.com is set to run a squeeze-out procedure, after which the company plans to buy back the shares Digital Garage and KDDI retained. Digital Garage separately intends to reinvest part of the buyback proceeds to acquire a roughly 20% voting stake in Kamgras 2 Co., Ltd., the bidder's parent company; the filings describe no equivalent reinvestment arrangement for KDDI. The stated goal of the transaction is to take Kakaku.com private.
Nomura's filing is a compliance disclosure triggered by crossing the 5% threshold. The Digital Garage-KDDI arrangement, filed hours apart, sets the terms under which Kakaku.com's ownership will look once the tender offer closes on July 16, 2026.